Use the following table to answer the question(s)below for Country Y,which is open to trade.Column 1 shows the price of a product,column 2 shows the domestic quantity demanded domestically (Qd),and column 3 shows the domestic quantity supplied (Qs).

-Refer to the above table.At what price will there be imports?

Question

Use the following table to answer the question(s)below for Country Y,which is open to trade.Column 1 shows the price of a product,column 2 shows the domestic quantity demanded domestically (Qd),and column 3 shows the domestic quantity supplied (Qs).
 
-Refer to the above table.At what price will there be imports?

Quizplus · Accepted Answer

Imports occur when the domestic price is lower than the world price, leading to domestic demand exceeding domestic supply. At $6.00, the domestic price is likely lower than the world price, resulting in imports.

Use the Following Table to Answer the Question(s)below for Country